Math word problem on monthly mortgage help needed

timer Asked: Oct 25th, 2015

Question description

banks have a lending policy that restricts monthly mortgage payments to no more than 8/25 of a households combined monthly gross income. jill makes 65000 annually; jack makes 55000 annually. together their joint taxes are approximately 1/3 of their gross salaries. the combines monthly expenses, less mortgage and taxes, are 2800. how much can they hope the bank will approve (max) for their monthly mortgage ?

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